Corpay unveils payments GPS for live payment tracking
By Delisha Fernandes
Corpay, a business payments provider, has announced that Corpay’s Cross-Border business has launched Payments GPS, a proprietary tracking technology that allows clients and partners to monitor payments in real time.
Leveraging innovative technologies, including SWIFT GPI (Global Payments Innovation), Payments GPS allows for a comprehensive infrastructure for clients and partners to continuously monitor payments. It provides an intuitive user experience, API Suite, and push notifications – making payment tracking more convenient than ever before.
“We have witnessed a high demand for transparency in the cross-border payments space. Our vision for Payments GPS is to provide clients and partners with one interface where they can track all payments across Corpay’s networks,” said Corinne MacMillan, Chief Product Officer, Corpay’s Cross-Border Solutions. “And we don’t plan on stopping here. We’re on a mission to continue improving our infrastructure and data-sharing across all networks so we can continue delivering leading-edge transparency.”
Core benefits of the product include:
- Transparency: Provides real-time payment status from initiation to settlement and allows clients to monitor each step of the journey.
- Centralized platform: Clients can access secure, thorough, and reliable information about the movement of payments across banks, including BIC codes, payment received and released dates, deductions, FX rates, and credited amounts.
- Knowledge: Provides detailed insight into bank fees and other charges upfront, enabling clients to make more informed decisions.
- Certainty: Real-time tracking ensures up-to-date information and gives clients confidence that the payment was successfully delivered to the recipient.
- Convenience: Enables a superior self-serve option for clients and partners, which allows for better exception handling and reduces investigation time and cost.
Providing a transparent self-serve platform for clients will also tremendously reduce the number of payment investigation cases opened for Corpay’s internal operations team.
“In today’s world, transparency is everything. At Corpay, we want our clients to have the same level of visibility and knowledge about the status of their payments as we do,” said Mark Frey, President, Corpay’s Cross-Border Solutions. “Payments GPS marks the first step in our endeavors to build comprehensive infrastructure aimed at increasing transparency throughout the payment process.”
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